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“Short sale” has almost become a media buzz word. The concept sounds great but it almost never works. A short sale is a market sale of the house for less than what is owed to the bank on the mortgage. […]

Nobody is surprised by a foreclosure. You make the monthly payment and you know when it will be late or not made at all. When you know this it is time to act. You need to: Recognize the problem Assemble […]

Every situation is different and has to be evaluated but here’s the story. The homeowner is a couple years into a 30 year no money down mortgage. (Mortgage rule of thumb: first 10 years pays 10% of the mortgage, 15 […]

Much has been in the news media about the Loan Modification Programs to save people from foreclosures and make homes affordable. Let me give you an example of a recent J.P. Morgan Chase modification. The homeowner having fallen on hard […]

Or rather I have found the question tends to become; “I just got a foreclosure notice, how soon do I have to move?” You need to know that a foreclosure may take months or years. During this time you are […]

Giving the bank a “deed in lieu” of filing foreclosure is an option. In addition to giving the bank the house you also want to be released from further payments. The advantage for you is you get out from under […]

There may be an economic interest at work against you. First know the bank will not look at your application until all requested documents are attached. Most people do not get all the documentation and the bank kills their modification on […]